Dash-Based Marijuana Firm Alt Thirty Six Reports Massive Rise in B2B Operations Via New Cash Management Option

📰 News
Sat, 02/09/2019 - 10:15
Put your
crypto to
work
  • 1.30

    Interest per week

  • 67.5

    Interest per year

  • 3.60

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • {{ content.field_content_author|field_value|getauthorname|raw }}

    Alt Thirty Six, a Dash-powered company working in the legal industry dealing with cannabis, has recorded a massive rise on B2B transaction volume using a new solution

Cover image via U.Today
3Commas
3Commas
Contents

Alt Thirty Six is a service based on the Dash network which works particularly in the legal cannabis industry. At the moment, it has a few issues with banks in the US.

image

A new cash management option

A short while ago, the firm came up with a solution for cash management. The idea is that marijuana dispensaries that are overloaded with cash can give it away to collectors to later be swapped for Dash coins. After that Dash will be used as payment to suppliers.

The firm’s president Lauren Murphy said in an interview that this technology will be similar to what CannTrade company offers, allowing to use digital payments for wholesale purchases.

Alt Thirty Six collector teams will pick up cash from dispensaries and then convert in to virtual coins upon the wish of a corporate customer. Later on these funds can be withdrawn and used whenever the customer desires.

This solution for managing cash is now working in a beta-test mode with over 30 customer firms involved.

Must Read
BitTorrent (BTT) Price Pump Seems Imminent After This New Listing - READ MORE

Dash transaction spike

The public beta trials of the new system have, reportedly, caused a great rise in transaction volumes on the Dash blockchain. Per week, the amounts in USD are in the six-figure area.

This shows a successful start of Dash in the cannabis legal market.

Further plans – B2C

In a few months, Alt Thirty Six plans to expand to the B2C market as well, allowing customers buy marijuana from dispensaries directly using Dash.

{{ content.field_content_author|field_value|getauthorname|raw }}

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today.

3Commas
3Commas
Recommended articles
Exclusive Interview with Dash’s CEO Ryan Taylor about Their Plans, Security, and New Heights

Exclusive Interview with Dash’s CEO Ryan Taylor about Their Plans, Security, and New Heights

DASH Can Now Be Purchased with Credit Cards. Here's How

DASH Can Now Be Purchased with Credit Cards. Here's How

Crypto Adoption on the March, Dash (DASH) Android Wallet Usage Surges 627% in Venezuela

Crypto Adoption on the March, Dash (DASH) Android Wallet Usage Surges 627% in Venezuela